On September 27, participants learned about e-commerce products in the exhibition area of the China New E-commerce Conference. Photo by Xinhua Agency reporter Yan Linyun

Xinhua Agency, Changchun, September 27 (Reporters Jin Jinxiu and Wang Fan) In 2023, China's new e-commerce industry will continue to maintain steady growth, with the total online retail sales nationwide reaching 15.42 trillion yuan. With the rapid development of emerging business formats such as Live streaming eCommerce, cross-border e-commerce, and instant retail, China's new e-commerce industry is becoming an important force in stimulating domestic consumption and promoting international trade.

This is the content of the "China New E-commerce Development Report 2024" released in Changchun, Jilin. From September 26 to 27, the report was officially released at the 4th China New E-commerce Conference hosted by China Federation of Internet Social Organizations and China International Chamber of Commerce.

The report jointly compiled by China Federation of Internet Social Organizations and China International E-Commerce Center shows that in 2023, the country's total online retail sales will reach 15.42 trillion yuan, a year-on-year increase of 11%. China has steadily ranked the leading position in the global online retail market for 11 consecutive years. Among them, the proportion of online retail sales of physical goods climbed to 27.6% of the total retail sales of consumer goods. E-commerce is becoming increasingly important to national consumption.

Among them, Live streaming eCommerce in China is developing rapidly. In 2023, the Live streaming eCommerce market will reach 4.9 trillion yuan, a year-on-year growth rate of 35.2%. The "Report" analysis believes that the shopping model based on real-time interaction further shortens the distance between consumers and products. As of the end of 2023, the number of Internet users in China has reached 1.092 billion, of which 597 million are e-commerce live broadcast users. Consumers purchasing goods through Live streaming eCommerce has become a regular shopping method.

The growth of cross-border e-commerce is equally eye-catching. In 2023, China's total cross-border e-commerce import and export volume will reach 2.38 trillion yuan, a year-on-year increase of 15.6%. Made in China has rapidly entered the global market through digital channels, further strengthening its competitiveness in international trade. Cross-border e-commerce is becoming a new growth point for China's foreign trade.

On September 27, the anchor broadcast live at the 4th China New E-commerce Conference. Photo by Xinhua Agency reporter Yan Linyun

Instant retail, an emerging business format, quickly meets consumers 'needs for convenience and timeliness with its flexible and efficient characteristics, and is especially favored by consumers in first-tier cities and developed regions.

In rural areas, the new e-commerce model has also made breakthroughs. In 2023, rural online retail sales will reach 2.49 trillion yuan, and online retail sales of agricultural products will be 0.59 trillion yuan. Through e-commerce platforms, more rural specialty products can enter the national market, bringing new income channels to farmers and promoting the digital transformation of the rural economy.

Zhao Hui, secretary-general of China Federation of Internet Social Organizations, said that new e-commerce formats represented by Live streaming eCommerce, content e-commerce, Social commerce, interest e-commerce, etc. are booming. The profound changes in production models, circulation models, and consumption models triggered by new e-commerce are promoting high-quality economic and social development, driving the transformation and upgrading of industrial and supply chains, releasing consumption potential, and creating high-quality life. It plays an important role.